The Voice of Canadian Credit Unions
Banking / Technology /  •

ZenBanx gets social

ZenBanx Canada launchesPop quiz: What do Toronto, Wilmington and Redwood City have in common?

They’re all hubs for ZenBanx™ Canada Inc., a subsidiary of DUCA Financial Services Credit Union Ltd. (41,300 members, $1.5 billion in assets).

Of course, don’t expect ZenBanx to be limited to those locations. According to its website, “ZenBanx Canada was founded in 2014 to introduce Canadians to a simple and secure multi-currency savings accord for citizens of the world.”

Arkadi Kuhlmann, ZenBanx’s CEO and founder, is no stranger to Internet banking, having broken ground in the online savings arena when he founded ING Direct Canada.

His latest venture forges fresh territory by simplifying how users save, exchange and send money with smartphones.

Members can hold up to five of eight set currencies in their accounts at one time. Plus features such as ZenRate and ZenPay, respectively, let them manage foreign currencies on the fly and send money to contacts using drag-and-drop functions. ◊